Incline Global Management LLC Has $1.12 Million Stake in Copart, Inc. $CPRT

Incline Global Management LLC trimmed its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 90.2% during the fourth quarter, HoldingsChannel reports. The fund owned 28,488 shares of the business services provider’s stock after selling 262,740 shares during the period. Copart comprises about 0.4% of Incline Global Management LLC’s investment portfolio, making the stock its 28th largest position. Incline Global Management LLC’s holdings in Copart were worth $1,115,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lodestone Wealth Management LLC acquired a new stake in shares of Copart during the fourth quarter worth $25,000. Aventura Private Wealth LLC acquired a new stake in Copart in the 4th quarter valued at $33,000. Board of the Pension Protection Fund acquired a new stake in Copart in the 4th quarter valued at $35,000. FNY Investment Advisers LLC acquired a new stake in Copart in the 3rd quarter valued at $36,000. Finally, Triumph Capital Management increased its stake in Copart by 424.2% in the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after buying an additional 823 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CPRT has been the topic of several recent research reports. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research note on Friday, May 22nd. JPMorgan Chase & Co. lowered their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Barclays reiterated an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Finally, Robert W. Baird set a $48.00 price target on shares of Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $44.50.

Copart Price Performance

Shares of CPRT opened at $29.52 on Thursday. The firm has a 50-day moving average of $32.67 and a 200-day moving average of $36.00. Copart, Inc. has a one year low of $29.50 and a one year high of $50.11. The company has a market cap of $27.33 billion, a PE ratio of 18.34 and a beta of 1.00.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. Copart’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 EPS. Analysts expect that Copart, Inc. will post 1.58 earnings per share for the current year.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the sale, the chief executive officer owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 9.60% of the company’s stock.

Copart Company Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.